Crypto Market Recovers After Liquidations: Here’s Why
After a week of massive liquidation, the cryptocurrency market has finally received some relief and has driven the rebound with wider macroeconomic changes.
The liquidation in the past day totaled $384.4 million, a significant drop from the previous few days. Meanwhile, on the last day, global market capitalization increased by 1.1%.
Recovery after large-scale liquidation of crypto market
The market decline is mainly due to Worry about global recession, trade warand broader macroeconomic uncertainty. As a result, Bitcoin (BTC) and Ethereum (ETH) Falling to monthly and annual lows.
This dramatic decline has led to widespread liquidation. Liquidated nearly $1 billion Yesterday came from the market. despite this, Pictures drawn with the latest data are slightly favorable.
According to Coinglass data, $384.4 million has been liquidated in the past 24 hours. Of these, the $138.2 million position comes from the long position, while the $246.2 million position is short position.
Specifically, Bitcoin sees $186.7 Millions in liquidation$146 million is attributed to short positions. Ethereum has experienced $73.6 million in liquidation, $40.3 million in long positions, and $33.1 million in short positions.
Meanwhile, Bitcoin recovered $80,000 of the ground and traded at $82,299. This has increased by 3.6% over the past day.
It is worth noting that the recovery can be attributed to recent diplomatic developments. according to BloombergUkraine agreed to respond to a temporary ceasefire proposed by the United States. This eases geopolitical tensions Weighed on the market before.
In addition, Ontario pause 25% Tariffs on electricity exports to Michigan, New York and Minnesota. This is also an important step to alleviate trade tensions.
American politicians, including House Speaker Mike Johnson, also provide much-needed assurances for the market. Johnson suggests that President Trump’s economic policies initially lead to market instability, Ultimately stabilize the economy.
“Give the president a chance to develop these policies,” he explain.
Additionally, White House Press Secretary Karoline Leavitt pointed out that market decline represents a temporary state rather than a certain or permanent trend.
“We are in an economic transition period,” Levitt said.
She emphasized the idea that market numbers, such as stock prices, trading volumes, and Liquidation, reflecting a specific point It can develop in a timely manner. These combined factors – political assurance, ease trade tensions and reduce Geopolitical risks have contributed The recent recovery of the crypto market.
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